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IRB Brasil Re

IRB Brasil Re adds Cavalcante as senior advisor, chair of board

11th June 2020

Brazilian reinsurer IRB Brasil Re has announced the appointment of Cesar Cavalcante as direct advisor of the CEO and chairperson of the reinsurer's Board of Administration, Antônio Cássio dos Santos. Cavalcante brings more than 40 years in the insurance and reinsurance market. He has worked in projects at large companies in the ... Read the full article

AM Best downgrades credit ratings of IRB Brasil Re

1st June 2020

Global financial services ratings agency A.M. Best has downgraded the credit ratings of IRB Brasil Resseguros SA (IRB Brasil Re) and maintained the under review with negative implications status on these ratings. Specifically, A.M. Best has downgraded the Financial Strength Rating to A- (Excellent) from A (Excellent) and the Long-Term Issuer ... Read the full article

IRB Brasil Re to be investigated by securities regulator, reports

27th May 2020

IRB Brasil Re, along with its management and shareholders, is set to be investigated by the country's securities regulator, according to reports from Reuters. The investigation is described as broad in nature and will include a look at an 8% drop in IRB’s shares earlier this year, after a letter released ... Read the full article

IRB Brasil Re, Aon launch tool to help analyse pandemic risk exposure

26th May 2020

Brazilian reinsurer IRB Brasil Re is partnering with Aon Resseguros on a tool that allows insurers to analyse the risk exposure of their life and home insurance portfolios and technically estimate possible losses with claims. The analysis will also enable shaping custom-designed coverage products for the pandemic, meeting the expectations of ... Read the full article

IRB Brasil Re eyeing competitors’ LatAm portfolios: Reports

22nd May 2020

It’s believed Brazilian reinsurer IRB Brasil Re is in advanced talks with rivals across Latin America as the firm looks to buy up portfolios and strengthen its position in the region. Reuters, citing two sources close to the reinsurer, says the move is an attempt to capitalise on decisions by rivals ... Read the full article

IRB Brasil Re delays release of Q1 results amid COVID-19

5th May 2020

IRB Brasil Resseguros SA (IRB Brasil Re) has announced that it has postponed the release of its first-quarter 2020 financial results amid the ongoing impacts of the COVID-19 coronavirus pandemic. In an announcement to its shareholders and the market, the Chief Financial and Investor Relations Officer of the Rio de Janeiro-based ... Read the full article

IRB Brasil Re withdraws profit guidance due to COVID-19

24th April 2020

Rio de Janeiro headquartered reinsurer IRB Brasil Resseguros SA (IRB Brasil Re) has decided to withdraw its profit guidance for 2020, due to the coronavirus (COVID-19) pandemic. The company said the move reflected the “current market conditions and the uncertainties of the magnitude of the impacts resulting from the coronavirus in ... Read the full article

IRB Brasil Re Board members resign amid “serious impacts” of COVID-19 crisis

22nd April 2020

Rio de Janeiro headquartered reinsurer IRB Brasil Resseguros SA (IRB Brasil Re) has announced that certain members of its Board of Directors have resigned amid the impacts of the COVID-19 coronavirus pandemic. On April 20th, 2020 the reinsurer received the resignations of Vinicius Jose Almeida Albernaz and Alexsandro Broedel Lopes from ... Read the full article

IRB Brasil Re names incoming Chairman interim CEO

16th March 2020

Brazilian reinsurer IRB Brasil Resseguros SA (IRB Brasil Re) has revealed that its Board of Directors unanimously resolved to elect the reinsurer's Chairman, Antonio Cassio dos Santos, as interim Chief Executive Officer (CEO) of the company. Earlier this month, Antonio Cassio dos Santos was appointed Chairman of the company's Board by ... Read the full article

AM Best places IRB Brasil Re under review with negative implications

9th March 2020

Ratings agency AM Best has placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of IRB-Brasil Resseguros S.A. (IRB Brazil Re). The decision comes after President José Carlos Cardoso and CFO Fernando Passos submitted their resignations to the ... Read the full article

IRB Brasil Re leaders resign amid Berkshire confusion

5th March 2020

Brazilian reinsurer IRB Brasil Resseguros SA (IRB Brasil Re) has replaced its President and Chief Financial Officer (CFO) after confusion about a possible investment by Berkshire Hathaway caused the company’s shares to plummet by 32%. President José Carlos Cardoso and CFO Fernando Passos submitted their resignations to the Board on March ... Read the full article

IRB Brasil Re boosts income by 45% in 2019

20th February 2020

Brazilian reinsurer IRB Brasil Resseguros SA (IRB Brasil Re) has announced that its net income increased 45% to 1.764 billion reais (US $400 million). Up from 1.219 billion reais in 2018, the result marks several years of consistently improving performance for the company. The fourth quarter of 2019 was by far the ... Read the full article

IRB Brasil Re continues to dominate Brazilian reinsurance market

26th September 2019

Brazilian reinsurer IRB Brasil Resseguros SA (IRB Brasil Re) continues to dominate the market in its home country, controlling around 33.1% of the market share. Data from Terra Brasis Resseguros (Terra Brasis Re) broke down the rankings for reinsurers operating in Brazil for the 12 months ending June 30, 2019. Brazilian companies ... Read the full article

IRB Brasil Re to take 8.93% stake in B3i for €3.5mn

6th August 2019

Brazilian reinsurer IRB Brasil Re has announced that it is looking to acquire an 8.93% stake in the Blockchain Insurance Industry Initiative (B3i) for €3.5 million (USD 3.9 million). The announcement was made by the company's Deputy Chief Executive Officer (CEO), Chief Financial Officer (CFO) and Director of Investor Relations, Fernando ... Read the full article

IRB Brasil Re raises $2bn in secondary share offering

19th July 2019

Brazilian reinsurer IRB Brasil Resseguros SA (IRB Brasil Re) has said that shareholders BB Seguridade Participações and the Brazilian Treasury raised 7.4 billion reais (US $1.99 billion) in a planned share offering yesterday. IRB Brasil Re set the price per share at 88 reais ($23.54) in the secondary share offering, according ... Read the full article

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